Atlantica Sustainable Infrastructure (NASDAQ:AY) Receives New Coverage from Analysts at StockNews.com

Analysts at StockNews.com started coverage on shares of Atlantica Sustainable Infrastructure (NASDAQ:AY) in a report released on Friday. The brokerage set a “sell” rating on the utilities provider’s stock.

Separately, UBS Group lowered shares of Atlantica Sustainable Infrastructure from a “buy” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Atlantica Sustainable Infrastructure presently has a consensus rating of “Hold” and a consensus price target of $22.67.

Atlantica Sustainable Infrastructure Price Performance

Shares of NASDAQ:AY opened at $22.01 on Friday. Atlantica Sustainable Infrastructure has a one year low of $16.35 and a one year high of $23.47. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.35 and a quick ratio of 1.30. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 47.85, a PEG ratio of 2.14 and a beta of 1.03. The firm has a 50 day simple moving average of $22.04 and a 200 day simple moving average of $21.13.

Atlantica Sustainable Infrastructure (NASDAQ:AY) last issued its quarterly earnings data on Thursday, August 1st. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.06). Atlantica Sustainable Infrastructure had a return on equity of 2.54% and a net margin of 3.59%. The firm had revenue of $328.26 million for the quarter, compared to the consensus estimate of $315.07 million. Research analysts predict that Atlantica Sustainable Infrastructure will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC raised its position in shares of Atlantica Sustainable Infrastructure by 3.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 17,389 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 637 shares during the period. Private Advisor Group LLC raised its holdings in shares of Atlantica Sustainable Infrastructure by 4.3% in the 1st quarter. Private Advisor Group LLC now owns 20,918 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 864 shares during the last quarter. Covestor Ltd boosted its stake in Atlantica Sustainable Infrastructure by 12.8% during the 1st quarter. Covestor Ltd now owns 9,385 shares of the utilities provider’s stock valued at $173,000 after purchasing an additional 1,064 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Atlantica Sustainable Infrastructure by 4.1% during the 1st quarter. Commonwealth Equity Services LLC now owns 28,801 shares of the utilities provider’s stock worth $532,000 after purchasing an additional 1,132 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Atlantica Sustainable Infrastructure in the second quarter worth approximately $30,000. 40.53% of the stock is owned by institutional investors.

About Atlantica Sustainable Infrastructure

Atlantica Sustainable Infrastructure plc owns, manages, and invests in renewable energy, storage, natural gas and heat, electric transmission lines, and water assets in North America, South America, Europe, the Middle East, and Africa. The company was formerly known as Atlantica Yield plc and changed its name to Atlantica Sustainable Infrastructure plc in May 2020.